Black Hills (NYSE:BKH) Issues FY 2024 Earnings Guidance

Black Hills (NYSE:BKH) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 3.800-4.000 for the period, compared to the consensus EPS estimate of 3.920. The company issued revenue guidance of -. Black Hills also updated its FY24 guidance to $3.80-$4.00 EPS.

Black Hills Stock Performance

Shares of BKH traded up $1.21 during trading hours on Friday, reaching $60.78. 456,582 shares of the company traded hands, compared to its average volume of 518,025. The stock has a market cap of $4.24 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 4.36 and a beta of 0.69. The stock’s fifty day moving average is $60.19 and its 200 day moving average is $57.49. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.94 and a current ratio of 1.06. Black Hills has a 1-year low of $48.27 and a 1-year high of $62.20.

Black Hills (NYSE:BKH) last posted its earnings results on Wednesday, November 6th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). Black Hills had a net margin of 12.00% and a return on equity of 7.51%. The business had revenue of $401.60 million during the quarter. Equities research analysts anticipate that Black Hills will post 3.91 earnings per share for the current fiscal year.

Black Hills Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Monday, November 18th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.60 annualized dividend and a yield of 4.28%. Black Hills’s dividend payout ratio is currently 69.89%.

Wall Street Analyst Weigh In

Several research analysts have commented on BKH shares. Wells Fargo & Company increased their price objective on shares of Black Hills from $61.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Scotiabank boosted their price target on shares of Black Hills from $54.00 to $63.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.00.

About Black Hills

Black Hills Corporation, through its subsidiaries, operates as an electric and natural gas utility company in the United States. The company operates in two segments: Electric Utilities and Gas Utilities. The Electric Utilities segment generates, transmits, and distributes electricity to approximately 222,000 electric utility customers in Colorado, Montana, South Dakota, and Wyoming; and owns and operates 1,394 megawatts of generation capacity and 9,106 miles of electric transmission and distribution lines.